The rupee continued its decline against dollar on the currency market on Tuesday in process of trading, dealers said.

The rupee shed four paisa in relation to the US currency for buying and selling at 90.90 and 90.92, experts said.

INTERBANK MARKET: OPEN MARKET RATES: The rupee also dropped by five paisa versus dollar for buying and selling at 90.95 and 91.15, they said.

In relation to euro, the rupee extended its fall, sliding by 20 paisa for buying at Rs 120.00 and Rs 121.00, they said.

In the second Asian trade euro gained, popping above resistance at its 90-day moving average after euro zone finance ministers sealed a bailout package for Greece, though some analysts doubt the news will give the currency a big fillip.

The agreement on the 130 billion euro ($172 billion) bailout programme, while long expected, will help Greece meet repayment needs next month, sparking a knee-jerk, 100-pip rise in euro against dollar.

The Indian rupee closed at 49.3050/3150 to dollar, after touching 49.05, its highest level since February 8, according to Thomson Reuters data.

It closed at 49.27/28 on Friday ahead of a market holiday.

The greenback was at 3.0150 in terms of the Malaysian ringgit and the US currency was trading at 6.2970 in terms of the Chinese yuan.

======================== Open Buying Rs 90.90 Open Selling Rs 90.92 ========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

======================== Buying Rs 90.95 Selling Rs 91.15 ========================

RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading trend in the local currency market on Tuesday.

According to the currency dealers, the dollar commenced trading at its overnight closing of Rs.91.05 and Rs.91.25 on buying and selling counters, respectively.

The dollar witnessed no change in its value during the day's trading and the opening rates continued to prevail throughout the day.

Similarly, the rupee showed stability and stayed unchanged amid low trading activity due to lacking buying support.

The dollar was traded at Monday's closing rates of Rs.143.60 and Rs.144.00 on buying and selling counters, respectively, the dealers said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs 91 (buying) and Rs Rs 91.20 (selling) against same last rate.

It did not observe further change in the second session and closed at Rs 91 (buying) and Rs 91.20 (selling).

Pound Sterling opened at Rs 142 (buying) and Rs 142.50 (selling) against same overnight value.

It did not observe further change in the evening session and closed at Rs 142 (buying) and Rs 142.50 (selling).

Copyright Business Recorder, 2012

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